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"Coinbase " officially announces the date of its direct listing on the stock exchange


 "Coinbase " officially announces the date of its direct listing on the stock exchange

Coinbase, which is one of the largest cryptocurrency companies, announced yesterday that its upcoming direct listing will be on April 14th.

"Coinbase " officially announces the date of its direct listing on the stock exchange

The company also revealed that it will share its first-quarter financial results eight days before the direct listing, i.e. on April 6.

The plan is unusual and important because the results will arrive only days before the company is due to display its shares to the public, and thus will add new guidelines for investors looking to determine the value of Coinbase shares.

The announcement comes weeks after Coinbase published its 2020 financial results as part of a mandatory regulatory filing for S-1 prior to its IPO.

These results showed that the company achieved a profit of $ 322 million in 2020 with revenues of more than $ 1.2 billion, a big jump compared to 2019 when Coinbase lost $ 30 million in revenues of $ 522 million.

According to the performance of the crypto market in the first quarter of 2021, which was characterized by a huge increase in the prices of most digital currencies, it is possible that the first quarter of the company "Coinbase" is its best quarter so far.

First-quarter earnings are also likely to lead analysts and potential investors to reassess the value of the company's shares, who previously valued the company at around $ 104 billion, a figure many analysts saw as too high and overestimated.

If Coinbase reports massive results in the first quarter, the valuation is likely to rise and result in the company having its shares listed above $ 343.

Coinbase's access to public markets will be a major milestone for the cryptocurrency industry as a whole, and it will also provide insight into how Wall Street interacts with an industry that has unique cycles and fluctuations.

As a reminder, last month, Coinbase took another unusual step on its way to becoming a public company by guest-hosting the “Ask Me Anything” (AMA) forum which featured “Brian Armstrong,” CEO of Coinbase. To answer users' questions.